If you don't think your neighbor's foreclosure effects you...

Think again. We’ve yet to see a significant increase in foreclosures here in Dothan. I think we will. And even if you are current on your mortgage and are set to ride out the storm, the ripple effect foreclosures have on the market can have some impact on you and your home.

Terry McDonald, fellow real estate blogger, had an excellent overview of this subject a few days back. There are basically two ways this can affect you, the average Dothan home owner.

It will affect you if you are trying to sell

Foreclosures typically sell for less than true market value

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